PLANNING THE AUDIT AND ASSESSING AUDIT RISK. REFERENCES DRAWN FROM AUDIT SERVICE OF GHANA
The study investigates planning the audit and assessing Audit risk decisions. The study offers the auditors with a set of preliminary audit procedures. The study found out that auditors’ knowledge of the client’s working environment improves their audit risk assessments and in a straight-forward manner have a profound impact on the sort and viewed-point of the standard of their audit planning decisions. The study had the objectives such use of analytical procedures, planning materiality, and interrelationship between desired level of audit risk, detection risk and extent of substantive procedures was assessed The study took into account data sources such as secondary and data collection was mainly qualitative. Findings from the research were highlighted to improved auditing practices. Conclusively, across the academic as well as professional communities, there has been increasingly concern regarding how analyzing the various planning of audit and resultant risk performance within organization in Audit Service of Ghana.
|Keywords: Audit Planning, Audit Risk, Assurance, Strategy, Materiality|
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